What Do Insurance Abbreviations Mean?

d&o vs e&o

In any industry there’s likely to be jargon, abbreviations and shorthand that are understood by few outsiders. The insurance industry is no exception. Common abbreviations include d&o and e&o, but what exactly is d&o vs e&o?

What Is D&O?

D&O stands for directors and officers insurance. It is a form of management liability insurance and is typically an add-on to other policies. In general, D&O coverage is intended to protect executives from claims made against them for wrongful acts. These policies cover management from personal liability and allow them to make business decisions without fearing personal retribution. ‘Wrongful acts’ is a broad term that includes claims around employment practices, mismanagement of funds, investment decisions, unfair business practices and more.

What Is E&O?

E&O stands for errors and omissions insurance and is often called professional liability insurance. E&O is general insurance coverage that will protect the company from claims brought against any employee of the company. Claims that fall under e&o could include product design flaws, negligence, malpractice or financial or physical damage to a client.

Do Companies Need Both?

It depends on the company and the industry in which it operates. The decision is not typically d&o vs e&o, but whether the company needs more than a professional liability policy. In most cases, if it is financially feasible, it could be a good idea to get both kinds of coverage.

The Right Coverage Brings Peace of Mind

hired non-owned auto

Auto insurance is complex enough when a firm provides company vehicles to its employees. It gets even more intricate when a staffing agency’s employees are driving a client’s vehicle. When this happens, the client company often requires the staffing firm’s hired non-owned auto policy to cover any accidents occurring when the employee drives the client vehicle. A review of your auto policy can verify that your staffing company’s insurance includes this important coverage.

Know What’s Covered

An auto insurance representative that specializes in staffing agencies can help you ensure you possess adequate coverage in the event of an automobile accident. Some of the items your insurance representative can review with you include:

  • Deductible levels
  • Aggregate limits
  • Types of individual policies
  • Rental car coverage

Know What’s Not Covered

It’s important to remember that while hired non-owned auto liability coverage protects your staffing agency against lawsuits from property damage or bodily injury resulting from automobile accidents, it is not collision coverage. As a result, if your employee damages a vehicle in an accident, your firm could still be liable for paying the cost of repairing that vehicle.

Don’t wait until your staffing agency’s employees are in an automobile accident to discover that your hired non-owned auto liability insurance is sub-par. Before your employees get behind the wheel of a client’s vehicle, have a qualified insurance specialist review your insurance package.

Types of Coverage for Your Production Company

video production insurance

The entertainment industry is changing year after year. Many companies are pushing themselves for bigger and better productions. Although there are many rewards to this type of career, many factors go into making it a successful businesses. Creators still have to acquire video production insurance in order to protect their investments. Different insurance companies include various types of policies. Still, there are some coverages that are more relevant than others.

Equipment Insurance

Any production company has a multitude of equipment many of which have been a huge investment. However, at any time during a shoot, accidents can occur. Theft may also be a factor during transportation and storage. This type of coverage can include cameras, lighting, microphones, lenses and much more.

Electronic Equipment Coverage

Besides the parts on-set, many electronic components are necessary during post-production. Unfortunately, these may also be subject to damage or theft. You can protect your computers, monitors, and tablets under this coverage.

Property Coverage

For those with larger productions, studios house everything from green screens to props. In addition to theft, there may environmental factors that can damage this property. Safeguard your property in case of flooding, fire or storm damages.

When starting your business, video production insurance is vital. A great insurance company is ready to help you customize your policies for a full coverage.

Meet Your Financial Needs With Whole Life Insurance

NCSF life insurance

You may be considering a whole life insurance policy to fund your retirement nest egg, to secure protection for your family, or to augment your philanthropy efforts. The National Catholic Society of Foresters (NCSF) offers life insurance products to meet your needs, no matter what stage or circumstance you find yourself in.

Whole life insurance is permanent insurance that will last throughout your life. Like other insurance, it provides death benefits to chosen beneficiaries at the end of your life, and also provides funds for financial needs along the way. Money from your whole life policy can be used for an education or for retirement or to fund a trust.

NCSF life insurance products include the following types of whole life insurance: Single Premium Whole Life, 10-pay Whole Life, 20-Pay Whole Life, Ordinary Whole Life and Key Life insurance. You can choose when and how often you want to pay premiums, the level of coverage, and optional riders. In addition to the life insurance product you choose, members of NCSF enjoy many membership benefits in the form of discounts and service opportunities. The health and wellbeing of your family can be guaranteed when you take the necessary steps to secure their financial future. With the right life insurance products, you can provide your family with a happy and protected lifestyle, no matter what happens.

Ask About These Awesome Boat Insurance Discounts

boat insurance in Babylon

Are you thinking about getting a boat and hitting the open sea or sitting lakeside every weekend? If so, you have a lot more to think about than just getting all the maritime terms down. For one thing, you’ll want to get in touch with an insurance agent about boat insurance in Babylon. Don’t let an additional insurance premium to pay each month keep you from setting sail. Instead, talk to a reputable insurance agent about these possible discounts you may qualify for.

As you get to talking to insurance agents in your area, you’ll probably find that most of them offer a discount for having multiple policies with them. If you need boat insurance, you can save money by getting your homeowners and auto insurance policies with the same company.

Another discount you may be able to get is one for making your boat safer. By having a U.S. Coast Guard approved fire extinguisher on board, and by having a burglar alarm installed on deck as well, you may be able to net some serious savings on your insurance premiums.

In some cases, your homeowner’s insurance will cover your boat as well. However, if it doesn’t, you can still coast all over the seaboard. Before you hang up your captain’s hat for good, ask a qualified agent about these discounts that may make boat insurance in Babylon more affordable.

What Does Business Insurance Cover?

Glen Rock, commercial insurance

When you own a company in Glen Rock, commercial insurance policies can help you stay in business for longer. These plans are designed to cover any damages you are found liable for and are based off your risks. Most policies will cover the legally required minimums of worker’s compensation, property and liability insurance. You can find more extensive plans which cover the unique risks of your industry as well as the minimums to help your company even more.

Glen Rock commercial insurance agents can help you find the right policies for your company, especially if you can find an agency with experience working with businesses in your industry. These professionals can help you identify the risks you face as well as find the right plan to cover and reduce those risks.

Most of the risks covered by commercial insurance include slip and fall accidents, worker’s compensation and even theft or property damage. The variables which go into determining how much insurance you need include how many employees you have, what your security system is and where you are located.

Finding the right insurance can help keep you in business even after you are found liable for the cost of damages sustained by your customers, employees or property. These damages can be expensive to cover and having to take it all out of your working capital can easily lead to bankruptcy.

Find the Right Insurance for Your Business

IFS Insurance

As a business owner, you take pride in the company you’ve built. After all the time, energy and money you’ve invested, you want to know your business is protected from the misfortunes that are a part of life. Luckily, providers like IFS Insurance offer a variety of coverage to meet your particular needs.

General Liability

Having the broad coverage of general liability may be a great place to start when purchasing insurance. This type of coverage includes accidents that may occur on your premises, which can be especially important if your business is high-traffic. Injury claims can be expensive to fight in court, and general liability insurance can prevent your business’s finances from suffering.

Property Insurance

Whether you run a restaurant, write software or manufacture kitchenware, you need equipment to run your business and a place to act as your headquarters. Property, both real estate and business-owned items, is a huge investment. Damage can be a major blow to your company, and the resulting financial burden may set your business back for years. Property insurance enables you to recover without sacrificing the capital you need to run your business from day-to-day.

Companies like IFS Insurance understand that preparing for the worst can help you come out on top. The right coverage after a disaster can mean the difference between bouncing back and going under.

Life Insurance for Your Personal Lifestyle

Catholic life insurance

When selecting life insurance it is important to consider your financial needs, your stage in life, your desires for your family, and also the type of lifestyle that is important to you. The National Catholic Society of Foresters (NCSF) provides Catholic life insurance options that reflect the values that are important to you, including providing for your family and contributing to your community.

The Low Cost Term Life Insurance products available through NCSF allow for premium payments that stay the same throughout the life of the term insurance policy. Terms are available from ten to thirty years and for face amounts between $50,000 and $4,000,000. You have the option to convert to whole life insurance within the first ten years of your term insurance plan. Policies include a guaranteed death benefit that is paid income tax free to named beneficiaries. Riders are available that can waive premiums in the case of disability or that will double death benefits in the case of accidental death.

In addition to securing the financial future of your family, insurance through NCSF comes with many member benefits. Members of the society engage in service and philanthropy through programs in local society courts. Grants and scholarships are available to members, and funds from the sale of insurance go back into communities to support those in need.

Hotel Insurance: A Vacation From Misfortune

wholesale resort hotel association insurance

Hotels are not simply a business, they are a safe haven for travelers and the livelihood for a wealth of employees. As such, hotel associations need to protect their guests and workers in case the unthinkable happens. From data security to worker compensation, wholesale resort hotel association insurance is a necessity in today’s market.

Due to the nature of the hotel industry, there is always a large volume of customers entering the peremesis, either physically or virtually. Crime insurance can protect your assets in case of theft, counterfeiting, and a host of other criminal activities. In addition, due to the exchange of sensitive information that both guests and hotels rely upon, Cyber Crime coverage can help you recover from a host of data-sensitive offenses. The threat of lawsuit is also a consequence of business, making Directors and Officers Liability insurance necessary to protect your board members as well.

At times even working in a hotel can be dangerous, so having Umbrella Liability coverage to protect against fire, guest injury, or other disasters can mitigate risk. In the unfortunate situation where an employee becomes injured, having Workers’ Compensation provides peace of mind to those who keep your hotels running smoothly. As a result, investing in wholesale resort hotel association insurance helps you take a vacation from worrying about unforeseen disaster.

Unique School Risks Call for Tailored Insurance

Wilmington business insurance

Wilmington business insurance is a must for public and private schools, who have distinctive risks and needs. Elementary and secondary schools have large student populations of minors who depend on you to make wise security decisions. Vocational/trade and technical schools may have large groups of sensitive and expensive equipment. Colleges and universities have many public buildings and private residences with a large and varied student population of majority age and independent thinking. Then there are charter and religious schools and additional scholastic institutions. Each school has specific challenges in security, plus the potential for emergency events at any time. Threats may also include allegations of physical and sexual abuse, vandalism, transportation issues and, like any business, data breaches of sensitive personal information.

With threats unique to the educational field, as well as the institution, you need Wilmington business insurance that meets your specific needs while helping you keep costs low. A general liability policy offers coverage for lawsuits involving injuries and property damage, while a commercial property package can protect buildings and essentials such as furniture, books and equipment. Business income is another option that covers loss of income when you have to shut down due to property damage. Insurance experts can tailor protection for your unique threats and also offer risk management options to lower both your threats and your premiums.